Starmer and Reeves Change Tax Policy Impacting the Budget

Chancellor Rachel Reeves is set to announce that income tax rates will remain frozen for an additional two years, reversing previous plans for a potential increase that could have violated Labour’s manifesto pledge to not raise taxes on working people. With a £30 billion budget deficit, other revenue-raising measures are being considered, including a property levy and modifications to benefit caps. The Autumn Budget will be presented on November 26, 2025, as Reeves navigates a challenging fiscal landscape amidst internal party pressures.

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